Synergy Asset Management LLC Takes Position in Enbridge Inc. (NYSE:ENB)

Synergy Asset Management LLC bought a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,263 shares of the pipeline company’s stock, valued at approximately $51,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. apricus wealth LLC increased its position in Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after purchasing an additional 220 shares during the period. Cornerstone Wealth Management LLC increased its position in Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after purchasing an additional 227 shares during the period. Armstrong Advisory Group Inc. increased its position in Enbridge by 3.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the period. Eagle Bay Advisors LLC increased its position in Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC increased its position in Enbridge by 3.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $44.45 on Friday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The stock’s 50 day moving average price is $43.09 and its two-hundred day moving average price is $41.08. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The stock has a market capitalization of $96.82 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business earned $0.46 EPS. On average, equities analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.